Akzo Nobel, the Dutch pharmaceuticals, coatings and chemicals group, is implementing the Trema Suite at its central treasury.
The implementation of the Trema Suite is part of Akzo Nobel’s Trust Project (Treasury Upgrade of System), designed to achieve three core objectives: improved risk management information and reporting consistency; systems sustainability and reduction of interfaces; and cost reduction both in terms of IT support and efficiency of treasury processes. The Trema Suite’s Transaction and Risk Management Module (TRM) is expected to go live later this year, with the implementation of the Trema Cash Management Module (CMM) to follow six to nine months later.
The Trema Suite will replace three systems currently used for core treasury and in-house banking functions, plus a number of additional applications. The system will be implemented in central treasury and will link to 200 remote sites.
Once Akzo Nobel identified the need for a new system, it visited a number of reference sites at comparable firms, rather than conduct a formal selection process. The Trema Suite was chosen as the best system available, based on its risk management and compliance capabilities.